Emanuel has been into the sale of clothes in Kabweza trading centre for fifteen years and is able to make 20,000/= a week as profits. He is a friendly and hardworking man and his good customer care has won him many customers. Emanuel has a dream of transforming his shop into a wholesale shop so that he can supply to the other traders as well as to build a family house.
Emanuel needs a loan to be able to buy more clothes of various kinds for resale.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid